Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,234,008) $ (6,552,870)
Adjustments to Reconcile Net loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 531,958 1,359,874
Issuance of convertible promissory notes for services 500,000
Warrant modification expense 23,495
Loss on settlement 131,900 58,893
Foreign currency transaction gain (143,169) (47,366)
Depreciation expense 1,628 507
Amortization of debt discount 1,835,899 2,235,257
Change in fair value of derivative liabilities (603,938) 494,772
Stock option expense 1,473,174
Accretion of put premium 619,436 914,412
Changes in Assets and Liabilities:    
GST receivable 19,953 (9,961)
Prepaid expenses and other assets (246,311)
Prepaid expenses and other assets - related parties 2,267
Accounts payable 119,443 (77,543)
Accounts payable - related parties 15,450
Employee benefit liability 17,682 19,060
Payment for security deposit 1,662
Accrued expenses 190,899 (326,341)
Accrued interest 47,189 (27,527)
NET CASH USED IN OPERATING ACTIVITIES (1,449,080) (2,205,144)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (676)
NET CASH USED IN INVESTING ACTIVITIES (676)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Loan repayments to principal stockholder (21,491)
Loan repayments (23,843)
Proceeds from convertible promissory notes 923,750 4,177,500
Repayments of convertible promissory notes (463,976)
Proceeds from the exercise of warrants 464,286
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,388,036 3,668,190
Effect of exchange rate changes on cash (50,968) (90,971)
NET INCREASE (DECREASE) IN CASH (112,012) 1,371,399
CASH AT BEGINNING OF PERIOD 121,070 107,627
CASH AT END OF PERIOD 9,058 1,479,026
Cash paid during the period:    
Interest
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Prepaid common stock issued for services 72,757
Cancellation of shares for convertible note payable 112,500
Reduction of put premium related to conversions of convertible note 132,955 1,034,454
Conversion of convertible notes and accrued interest to common stock 934,241 3,817,285
Discounts related to warrants issued with convertible debenture 910,178 1,666,635
Discounts related to derivative liability 650,000 2,205,925
Settlement of accounts payable for shares of common stock $ 50,000